1.8 Executive Director Position Description

Meeting room

Executive Director Position Description

The Board shall appoint an Executive Director who shall be in charge of the general administration of the Fund and who shall report to the full Board.

  1. The person shall have general administrative duties which include directing:
    1. The computation of service credit, benefit payments and contributions payable to IMRF by members and employers;
    2. The processing of approved benefit claims and expenses of administration for payment;
    3. The preparation and maintenance of necessary and proper records for administrative and actuarial purposes;
    4. The conduct of any necessary or desirable communications in the course of operations of the Fund.
  2. The person shall have such special powers and duties as may be properly delegated or assigned by the Board from time to time.
  3. The person shall work with the Board President and Vice President to develop agendas for regular and special Board Meetings so that all matters requiring Board action or are in the interest of the Board or the Fund, are placed before it.
  4. In addition, the Executive Director shall have the following specific duties and responsibilities:
    1. Provide leadership to IMRF in achieving its mission, vision, and values.
    2. Provide leadership in developing and implementing a strategic plan that leverages the strengths and addresses the challenges and opportunities of IMRF.
    3. Maintain effective and credible relationships with the members and beneficiaries of IMRF, participating employers, executive officers of State government, the legislature, employee and retiree organizations, the media, and the public at large.
    4. Project a positive image as Executive Director of IMRF.
    5. Act as official spokesperson for IMRF and the Board (at the Board’s discretion) at various external meetings, conferences and events; and with members of the media.
    6. Act as liaison between the Board and other IMRF staff and service providers.
    7. Safeguard the assets of IMRF by developing and implementing proper internal controls.
    8. Monitor the operational and funded status of the benefit plan under IMRF.
    9. Provide necessary staffing, support and resources to the Board and its committees.
    10. Proactively assist and advise the Board and its committees with regard to issues requiring Board policy or action.
    11. Select and manage all IMRF staff consistent with IMRF budget provisions.
    12. Complete performance appraisals of those who have direct reporting relationship to the Executive Director.
    13. Assist the Board in reviewing and adopting actuarial assumptions, funding methods, benefit option factors and actuarial valuation methods for IMRF.
    14. Initiate the annual actuarial valuations, periodic actuarial experience studies and independent actuarial audits as required by Illinois State law or Board policy.
    15. Assist the Board in developing policies and procedures for investing IMRF assets.
    16. Execute and manage investments in accordance with Board directives.
    17. Assist the Board in soliciting and selecting the following service providers:
      1. Investment managers
      2. Investment consultants
      3. Consulting actuaries and actuarial auditors
      4. External financial auditor
      5. Information Services auditor
      6. Medical Consultants
    18. Except as otherwise noted, select and oversee all other service providers to IMRF.
    19. Develop and recommend to the Board an operating budget, direct and manage expenditures within the budget and make reports as directed.
    20. Implement the IMRF Staff Compensation Program as adopted by the Board. Salary adjustments greater than the policy adopted by the Board may be approved by the Executive Director in an amount not to exceed 10% provided notice is subsequently provided to the Board and provided the new salary does not exceed the salary range.
    21. Prepare the IMRF comprehensive annual financial report.
    22. Develop and deliver all operational reports to the Governor and Illinois General Assembly as required by Illinois State law.
    23. Develop and implement plans that support IMRF’s aspirational goal to utilize businesses owned by minorities, females, and persons with disabilities for not less than 20% of IMRF’s expenditures for goods and services. This includes contracts awarded for "information technology" services, "accounting services", "insurance services", "insurance brokers", "architectural and engineering services" and "legal services" as defined in Act P.A. 99-462.
    24. Develop policies and procedures to minimize the risk of cyber security attacks.
    25. Develop and support IMRF's Journey of Excellence.